Automotive Engineering Service Provider Market Overview:
The engineering service provider offers different engineering solutions to various industries and automotive is one of the industries. The engineering solutions are provided for various elements like mechanical, electrical, electronics, software, and others. These elements are used for several applications in automobiles. Automotive engineering solutions help OEMs and their suppliers digitize the product value chain and thereby minimize product development costs and reduce the time to market. The automotive engineering solutions include vehicle engineering, vehicle electronics, manufacturing IT, and product lifecycle management (PLM).
Automotive Engineering Service Provider Market Size to Expand at a Notable CAGR of 12% During 2019 – 2023.
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The major key driving factors for the growth of this market are the improving automotive infrastructure in countries such as China, Germany, Norway, US, and Japan, increasing production and sales of electric vehicles globally, increasing emission standards, and rising trend of vehicle electrification and digitization.
Key Players:
The prominent players in the global automotive Engineering Service Provider market include Continental AG (Germany), AVL LIST GmbH (Germany), Robert Bosch GmbH (Germany), Bertrandt (Germany), HARMAN International (USA), EDAG Engineering GmbH (Germany), IAV Automotive Engineering, Inc. (Germany), Magna International Inc (Canada), Imaginative Automotive Engineering Services (India), and Contechs (UK).
Automotive Engineering Service Provider Market Segmentation:
The global Automotive Engineering Service Provider Market is segmented on the basis of services, application, vehicle type, and region.
On the basis of services, the market has been segmented into engine, chassis, transmission, car and BIW, seating systems, cooling and HVAC, interior and exterior trims, and others.
On the basis of application, the market has been segmented into Mechanical, Electrical & Electronics, Software, and Safety.
On the basis of vehicle type, the market has been segmented into passenger car, commercial vehicle, and two-wheeler.
Growth Factors:
The global automotive engineering service provider market is projected to witness an exponentional growth during the study period. The rising production and increasing advancement in automobiles are accelerating the growth of automotive engineering Service Provider market. In addition, the growing focus by consumers and OEMs on minimizing power losses, producing light weight vehicles, increasing power density, and maximizing power savings are driving the growth this market.
The one of the key factors considered for the growth of this market is the growing competition between automotive engineering service provider component providers and increasing support from the local government to produce environment friendly vehicles, which has fortified the service provider to design and develop as per the guidelines set by governing bodies operating in automotive sector across different regions.
Regional Analysis:
In terms of region, the global market for the Automotive Engineering Service Provider is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is estimated to hold the largest market share during the forecast period owing to growing production of automobiles from China, India, Kores, and Japan. Moreover, growing population and rising purchasing power of people are expected to boost the demand for Automotive Engineering Service Provider market in this region. Furthermore, the growing industrialization and infrastructure development across the region accelerate the growth of this market.
Europe is estimated to grow at a significant rate in Automotive Engineering Service Provider market during forecast period owing to the presence of key plays such as Continental AG (Germany), AVL LIST GmbH (Germany), and Robert Bosch GmbH (Germany) are contributing in the growth of this market.
Scope of the Report:
This study provides an overview of the global Automotive Engineering Service Provider market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Automotive Engineering Service Provider market by service, application, vehicle type, and region.
Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria
2.7 Macro Factor Indicator Analysis
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
Continued…
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